Allied Corp. announces completion – GuruFocus.com
KELOWNA, British Columbia, Oct. 21, 2022 (GLOBE NEWSWIRE) — Allied Corps. (“Allied” or the “Company”) ( ALIDE) is pleased to announce that it has now completed its first two harvests of THC and is readying this product for sale and export. Allied only sells and ships cannabis flowers produced in Colombia to countries where it is legal to do so.
In June 2022, Allied was the first company to export dried cannabis from Colombia. Allied’s shipments of 272 kg, 200 kg, 1728 kg and 3425 kg showed an established supply chain at commercial scale.
On or around September 17e, 2022 Allied harvested its first harvest of THC. This included 2200 plants. This product has been cured, cured and trimmed to prepare the product for sale and export. On or around October 16e, 2022, the second crop of 6100 plants has been harvested and is now cured and cured and will be tested before being offered for sale and export. The production pipeline includes additional work packages of approximately 6,000 plants harvested every 2-3 weeks. Each 1000 plants represents around 200-250 kg of dried cannabis product depending on the strain.
Lab analysis for the first harvest showed a total cannabinoid percentage of 28.13% with a profile rich in terpenes and flavonoids.
Allied’s customers and channel partners span five (5) global continents, including Australia, Europe, Asia, South America and North America. Allied’s relationships with its international partners are based on long-term, sustainable agreements that have been designed with the Ally Within™ supply chain in mind.
“We are excited to continue to follow through on our plan to bring high-quality Colombian-grown THC flower to international markets. The advantages offered by Colombian production are numerous. Cost and quality advantages within a risk-free supply chain position Allied to disrupt the global cannabis production channel. In addition to this, Allied is also looking at our carbon footprint. The high electricity costs and energy consumption in the global cannabis industry is really attracting attention. We have looked at our natural production environment in Colombia and with each harvest we continue to deliver a premium carbon neutral product at scale,” said Calum Hughes, CEO and Chairman of the Board.
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Allied company. is an international cannabis company with its main production center in Colombia and is one of the few companies to have exported from Colombia internationally and the first company to export commercial cannabis flowers from Colombia. In addition to this, Allied has three CBD brands to market with products sold in the United States.
This press release contains “forward-looking information” within the meaning of applicable securities laws in Canada or the United States (“forward-looking information”). Forward-looking information may relate to the Company’s future prospects and anticipated events, plans or results, and may include information regarding the Company’s objectives, goals, strategies, future revenues or performance and capital expenditures, as well as than other information that is not historical information. Forward-looking information can often be identified by the use of terms such as “believe”, “anticipate”, “plan”, “expect”, “pending”, “in progress”, “intend to », « estimate », « project ». , “”may”, “will”, “should”, “might”, “may”, negatives thereof, variations thereof, and similar expressions. The forward-looking information contained in this press release is based on the opinions , estimates and assumptions of the Company in light of experience and management’s perception of historical trends, current conditions and expected future developments, as well as other factors that management currently believes are appropriate and reasonable in the forward-looking statements in this press release include the following: that Allied is taking advantage of conditions at its Colombia cultivation operation and future Kelowna site to support its research and development efforts; significant progress in positioning itself as a leader in the field of medical cannabis, that Allied intends to file a series of trademark proposals and other intellectual property protection filings, as part of the company’s intellectual property and pharmaceutical development (IP&PD) strategy, statements regarding the joint development, manufacture and introduction of TACTICAL RELIEF™ brand.
There can be no assurance that the underlying opinions, estimates and assumptions will prove to be correct. Risk factors that could cause actual results to differ materially from the forward-looking information contained in this release include: the Company’s exposure to legal and regulatory risks; the effect of the legalization of cannabis for adult use in Canada and Colombia on the medical cannabis industry is unknown and could materially and adversely affect the Company’s medical cannabis business; that the medical benefits, viability, safety, efficacy, dosage and social acceptance of cannabis are not those currently expected; that adverse changes or developments affecting the principal or planned facilities of the Company could have an adverse effect on the Company; that the medical cannabis industry and market may not continue to exist or develop as expected or that the Company may not be able to succeed in such market; risks related to the completion of the construction of the greenhouse in Colombia, risks related to market competition; risks relating to the proposed adult cannabis industry and market in Canada and Colombia, including the Company’s ability to enter or compete in these markets; that the Company has a limited operating history and a history of net losses and may not achieve or maintain profitability in the future; risks relating to the Company’s current or proposed international activities; risks relating to future strategic alliances with third parties or expansion of existing relationships with third parties; that the Company may not be able to successfully identify and execute future acquisitions or divestitures or successfully manage the impacts of such transactions on its operations; risks inherent in operating a farming business; that the Company may not be able to attract, develop and retain key personnel; risks resulting from significant disruptions in the Company’s access to certain key inputs such as raw materials, electricity, water and other utilities; that the Company may not be able to transport its cannabis products to patients safely and efficiently; risks relating to recalls of the Company’s cannabis products or product liability or claims or regulatory actions involving the Company’s cannabis products; risks related to the Company’s dependence on pharmaceutical distributors; that the Company, or the cannabis industry generally, may receive adverse publicity or be the subject of negative consumer or investor perception; that certain events or developments in the cannabis industry more generally may have an impact on the reputation of the Company or its relationships with customers or suppliers; that the Company may not be able to obtain adequate insurance coverage in respect of the risks it faces, that the premiums for such insurance may no longer be commercially justifiable or that there may be limitations coverage and other exclusions which may cause such insurance not to be sufficient; that the Company may be held liable for the fraudulent or illegal activities of its employees, contractors, consultants and others; that the Company may suffer breaches in the security of its facilities or losses following the theft of its products; risks related to the Company’s IT systems; that the Company may not be able to sustain the growth and development of its revenues; that the Company may not be able to expand its operations quickly enough to meet demand or manage its operations beyond their current scale; that the Company may not be able to obtain adequate or reliable sources of financing; risks relating to or associated with the Company’s exposure to reporting requirements; risks related to conflicts of interest; risks related to fluctuations in exchange rates; risks related to the Company’s potential exposure to greater than expected tax liabilities; risks relating to the protection and enforcement of the Company’s intellectual property rights or the intellectual property it licenses to others; that the Company may be subject to allegations that it or its licensors are in violation of the intellectual property rights of third parties; that the Company may not derive full benefit from the trials or clinical studies in which it participates; that the Company may not fully benefit from its licenses if the licensed material has less market appeal than expected and the licenses may not be profitable; as well as any other risks that may be more fully described and the risk factors discussed in the Company’s continuous disclosure, including its Management Discussion and Analysis sections in its Quarterly Reports on Form 10-Q, Annual Reports on Form 10-K and its current reports on Form 8-K filed under the company profile at www.sec.gov.
Although management has attempted to identify important risk factors that could cause actual results to differ materially from those contained in the forward-looking information in this presentation, there may be other risk factors not currently known to the Company or that the Company currently believes is not material that could also cause actual results or future events to differ materially from those expressed in the forward-looking information in this presentation. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers and viewers should not place undue reliance on forward-looking information, which speaks only as of the date of publication. The forward-looking information contained in this release represents the Company’s expectations as of the date of this release or as of the date indicated, regardless of the time of delivery of the presentation. The Company disclaims any intention, obligation or undertaking to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws.